Urban Outfitters (NASDAQ:URBN) Sees Unusually-High Trading Volume Following Earnings Beat

Urban Outfitters, Inc. (NASDAQ:URBN) saw an uptick in trading volume on Wednesday following a better than expected earnings announcement. 840,202 shares traded hands during mid-day trading, a decline of 50% from the previous session’s volume of 1,693,896 shares.The stock last traded at $40.39 and had previously closed at $41.32.

The apparel retailer reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Urban Outfitters had a net margin of 5.58% and a return on equity of 15.32%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 earnings per share.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Telsey Advisory Group upped their target price on shares of Urban Outfitters from $48.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. cut their price target on shares of Urban Outfitters from $46.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. UBS Group upped their price target on shares of Urban Outfitters from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Robert W. Baird upped their price target on shares of Urban Outfitters from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, StockNews.com raised shares of Urban Outfitters from a “hold” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Urban Outfitters currently has a consensus rating of “Hold” and an average target price of $41.33.

Insider Buying and Selling at Urban Outfitters

In other Urban Outfitters news, CFO Melanie Marein-Efron sold 3,345 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $42.23, for a total value of $141,259.35. Following the transaction, the chief financial officer now directly owns 6,908 shares of the company’s stock, valued at $291,724.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Urban Outfitters news, CEO Tricia D. Smith sold 6,250 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $40.74, for a total value of $254,625.00. Following the completion of the transaction, the chief executive officer now owns 6,353 shares in the company, valued at approximately $258,821.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Melanie Marein-Efron sold 3,345 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $42.23, for a total value of $141,259.35. Following the completion of the transaction, the chief financial officer now owns 6,908 shares of the company’s stock, valued at approximately $291,724.84. The disclosure for this sale can be found here. Insiders have sold a total of 18,473 shares of company stock worth $757,483 over the last 90 days. Insiders own 31.80% of the company’s stock.

Institutional Trading of Urban Outfitters

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in Urban Outfitters by 89.7% during the 4th quarter. Parallel Advisors LLC now owns 882 shares of the apparel retailer’s stock worth $31,000 after acquiring an additional 417 shares during the last quarter. Spire Wealth Management increased its holdings in shares of Urban Outfitters by 3,700.0% in the 4th quarter. Spire Wealth Management now owns 1,140 shares of the apparel retailer’s stock worth $41,000 after purchasing an additional 1,110 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Urban Outfitters in the 3rd quarter worth $81,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Urban Outfitters in the third quarter worth $112,000. Finally, Headlands Technologies LLC bought a new stake in shares of Urban Outfitters in the fourth quarter worth $150,000. Hedge funds and other institutional investors own 77.61% of the company’s stock.

Urban Outfitters Price Performance

The company has a market capitalization of $3.68 billion, a PE ratio of 12.97, a P/E/G ratio of 0.65 and a beta of 1.55. The company has a 50-day moving average of $40.79 and a two-hundred day moving average of $39.26.

About Urban Outfitters

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates through three segments: Retail, Wholesale, and Nuuly. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.